Big data is a term used to describe the exponential growth of data. In particular, it refers to the ability to handle not just the increased volume of data, but also the increase in variety of data types—for example, the increased importance of unstructured data—and velocity of data—for example, the streaming data arriving from web click-through and connected devices. The challenge is to convert all this data to value, to store it and analyze it for insight and innovation, using capabilities that are beyond those of a traditional data warehouse.
Big data was originated by the likes of Google and Yahoo and subsequently adopted by the likes of Facebook and Amazon. These huge enterprises used big data to analyze vast amounts of information for targeted innovation, marketing, or operations. Today, there’s an extra challenge: many industries looking towards big data to get control of and value from their data include organizations with sensitive or confidential information, or who need to meet particular information governance requirements.
A common misconception is that big data necessarily involves petabytes of data. In fact, any combination of velocity, variety, or volume may be an organizational driver for big data.
For any organization that has an imperative for information governance, a big data solution needs to include features with big data privacy, security, governance, and full data management. For organizations seeking to control costs and increase effectiveness, a big data solution should preserve the value of existing infrastructure, easily integrate with existing business intelligence and analytics tools, and enable agile, effective application development.
PHEMI’s portfolio of big data products can provide value for any organization with any of these drivers. PHEMI big data solutions can keep up with any volume and velocity of data, can handle any size of data—big or small—and any type of data.
PHEMI big data solutions can add extra value by breaking down data silos, consolidating data stranded across different data sources or data types, so organizations can start to get a better view of their complete data landscape and begin to mine it for insight and value. PHEMI solutions also include powerful features for managing sensitive and confidential data, and for advanced data management that enables full control for information governance.
By embedding big data privacy and governance information right at the field level, the user’s ability to discover insights and innovate actually begins to increase as more data sources are added to the system. IT departments appreciate the reduction in costs when big data technologies are implemented—up to 60% reduction in TCO—and benefit from a new freedom from dependencies on schemas on source systems. The organization as a whole benefits from a transformation with the ability to turn data quickly into insights, innovation, and outcomes.
Based on early findings from the Aberdeen Research Group's survey HealthTech 2017: Tracking the Impact of Clean, Secure, and Connected Data, this report investigates the top data-related challenges facing healthcare providers today and explores the operational impact of business intelligence (BI) and analytics in healthcare environments.View all White Papers